just bought 16k + shares under IPO price. People have sooo weak hands nowadays..
Have you thought about why they might be selling for a loss? Are they 'weak' - ergh who wants to be 'weak'? Weak is bad.
Or are they.....worried?
It doesn't have to be either.
There's general reasons why sometimes people have to sell securities that have nothing to do with the securities at all - emergencies happen or very profitable short-term opportunities become available as two simple examples. The structure of this IPO adds additional reasons why it will happen in this case.
First thing you have to realise is that unless it becomes obvious that this will definitely make a large profit then there's no reason why anyone would rationally buy at .016 YET. As there's no panic buying of the wall there's no urgency for anyone who WANTS to invest to do so right now - they can invest in a fixed-rate bond, Just-Dice, Coinlenders or whatever for a few months, keep the profits and THEN buy their shares at .016. Or they can try to buy them cheaper in the interim.
That means there's an effective ceiling on price of .016 at present. Which, in turn means that even if someone wants to invest in this it makes sense for them to sell now if (and only if) they can make more profit between now and the expiry date of the wall than the difference between the price they sell at and .016.
So right now there should be (and probably are) people acting entirely rationally who LIKE this investment but are still entirely correct to sell their shares now with the plan of buying back later. And they'll be selling to the ones who want to invest in this and DON'T have other options that can make them more profit than the difference between current price and .016.
Assuming there's interest in this exceeding the volume of shares sold at .015 and lower then I'd STILL not expect the price to hit .016 until a few weeks before the cut-off date on them - but in that case I'd expect the price to gradually get back up nearer to .016 as the deadline approaches.
Information will, of course, change that. If good news emerges then the .016 wall would start getting eaten quicker. If bad news emerges then then it may never get reached at all. But there's zero reason to buy from that wall right now and give up all profit for a few months AND gamble on all news being good.
In short what's happening now is people are selling who either have options to make profit short-term and/or believe the risk-weighted value of waiting for more news exceeds the difference between current price and .016. Plus there'll be some who got cold feet plus some who sell anything they buy if they haven't had a dividend in a week.
As soon as the final batch of shares was announced to be a) large, b) at a higher price and c) up for sale for ages it was a near certainty that it would just sit there for ages (only other option was that it would sell out fast - which seemed unlikely). That's not a problem for the IPO - as they don't need (and likely can't even use) the funds right now anyway. And that it's not being touched now says nothing about what will happen when the date gets nearer.
When there's no sensible reason for someone to do something (in this case buy at .016 NOW rather than later) then it's dumb to try to draw conclusions from the fact that they aren't doing it. If the wall's still untouched a few days before the end date then it becomes a problem.
EDIT: There's one more factor which could cause the .016 wall to start selling sooner - if the pass-through on BTC-TC gets approved (as there's a fair number of people who invest there and won't trade on Bitfunder). At present that seems highly unlikely as the contract there hasn't been updated (It starts with "Each share represents 1/50,000,000 of the profit of DigiMex" which is no longer the case as the number of shares is no longer fixed). But if it ever starts trading there then that could spur sales on Bitfunder as suddenly it may no longer be safe to assume you can wait until late October and still buy then at .016.
